Nazarbayev speaks about problems of Kazakh economy

Low prices for oil and metals, and weak demand for Kazakhstan's products in Russia and China may have a negative impact on the economy, President of Kazakhstan Nursultan Nazarbayev stated at a meeting on system measures of economic policy.

Ways of ensuring the growth of Kazakhstan's economy in the face of the deteriorating situation on world markets were discussed at a meeting.

Nazarbayev highlighted a number of negative factors, which may have an impact on the economy of Kazakhstan in the long term.

According to Finance Minister Bakhyt Sultanov, due to the decline in oil prices, the profitability of Kazakhstan's budget has decreased by 22%.

In addition, the Finance Minister reported that, compared to last year, the amount of undisbursed funds from the state budget halved, amounting to 41 billion tenges.